Thursday, October 09, 2008

Financial blogger sees need for "financial transparency" an opportunity for I.T.

Paul Kedrosky, a financial blogger and analyst with Ten Asset Management, from San Diego, commented on Yahoo! today that the credit crisis and bear market could provide another opportunity for tech companies. That is, “average investors” need democratization of information, without a $1700 a month Bloomberg terminal. He says in a video (above) that Yahoo! is on the right track in providing much more financial information than ever before, including bond history. He also mentioned CME. He mentions the need to link information various kinds of instruments, even credit default swaps. The video is available on Yahoo! here.

That would seem again to argue for information technology jobs in designing databases relating information in novel ways, even including demographics that could eventually affect markets.

His own blog "Infectious Greed" is here.

He is absolutely right. It is quite feasible to imagine a website (or reorganization of a Yahoo! or CNBC page) that structures worldwide financial information (including LIBOR, TED, etc) and derivatives that makes what is going on much more transparent to the public without paying for expertise. I've tried to do the same with social and political information with my "doaskdotell" site.

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